Ash-Sharqiyah scraps MoU signed with Addoha Poultry

Logo of Ash-Sharqiyah Development Co. 

Ash-Sharqiyah Development Co. will not extend or renew the memorandum of understanding (MoU) signed with Addoha Poultry Co., with neither side bound by any liabilities or obligations in this respect.

In a statement to Tadawul today, June 13, the company indicated that joint studies and understandings did not result in an agreement on establishing a joint project that would achieve the goal of the MoU.

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The MoU-related studies, according to Ash-Sharqiyah, found other alternatives for executing projects in the poultry industry with distinct economic feasibility.

During the coming period, the company seeks to conclude these studies and begin implementation, adding that there is no financial impact as a result of the MoU termination. 

The MoU was signed in December 2023 with the aim of fostering Ash-Sharqiyah's strategic cooperation in the poultry industry and related projects, according to Argaam's data.